Repay Q2 2020 Earnings Report
Key Takeaways
REPAY reported a 68% increase in total revenue and a 63% increase in gross profit compared to the second quarter of 2019. The company also completed the acquisition of cPayPlus to further address market opportunities.
Card payment volume increased by 63% compared to Q2 2019, reaching $3.6 billion.
Total revenue grew by 68% compared to Q2 2019, reaching $36.5 million.
Gross profit increased by 63% compared to Q2 2019, reaching $27.8 million.
Adjusted EBITDA increased by 55% over the second quarter of 2019, reaching $16.2 million.
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Forward Guidance
REPAY expects card payment volume between $14.5 - 15.0 billion, total revenue between $145.0 - 155.0 million, gross profit between $110.0 - 115.0 million, and Adjusted EBITDA between $62.0 - 66.0 million for full year 2020.
Challenges Ahead
- Guidance assumes no further unforeseen COVID-related impacts.
- COVID-related impacts could create substantial economic duress in the second half of the year.
- REPAY does not provide quantitative reconciliation of forward-looking, non-GAAP financial measures.
- Difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties.
- Providing them may imply a degree of precision that would be confusing or potentially misleading.